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Zora

Last updated: Nov 08, 2024

Zora is a scalable Layer 2 built on Ethereum, prioritizes NFTs and media over traditional DeFi applications, enabling fast and cost-efficient transactions. The platform supports various types of content, including images, videos, songs, and more, allowing users to express and monetize their creativity freely.

Seed Round: $2M

Funding Round: $8M

Funding Round: $50M

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Overview

Project industry	Blockchain Infrastructure / Art & Music / Ethereum Ecosystem / NFT / Layer-2 / Web 3.0 / DAO / Protocol / EVM
Product type	Ecosystem
Founded	United States
Whitepaper	Open

What is Zora

Zora has the goal of altering the narrative surrounding the payment artists receive for their work. The aim of Zora is to let artists and designers capture a share of the resale value of their work, through fees collected when the NFT is resold. Zora has also partnered with COLORSxSTUDIOS, an aesthetic music platform featuring emerging talents on YouTube with almost 7 million subscribers to launch a digital collectible platform: COLORS COLLECT, where fans can buy a copy of the show as an NFT. In line with Zora's aim to enable artists, the proceeds from each collectible are divided with 50% going to the artist and 50% going to COLORS to make more shows collectible and further building out the platform.

The Zora ecosystem is mainly made up of the Zora marketplace and the Zora Network.

Zora is an NFT marketplace built by Zora for artists and other types of creators. The marketplace also functions as a place to register media provenance, which would help artists collect royalties hassle-free.

Zora is composed of protocols, smart contracts, and others that were specially designed to make it simple and affordable to add to the chain and distribute it to the collectors.

Zora’s operational model consists of 6 pillars.